8. LOANS AND ADVANCES TO THIRD PARTIES AND CONSIDERATION RECEIVABLE (Tables)

3 Months Ended

Mar. 31, 2013

Other Receivables and Consideration Receivable [Abstract]

Schedule of other receivables

	March 31,		December 31,
	2013		2012
	US$		US$
Advances to Sanhe Construction Co., Ltd. Zhaoguang Branch (i)		14,652,133		1,765,593
Advances to Gannan Feihe Youpeng Food Co., Ltd (ii)		12,505,685		—
Due from Heilongjiang Feihe Yuanshengtai Co., Ltd. (iii)		8,060,375		8,256,920
Advances to Kedong Hexiang Agricultural Co., Ltd (iv)		5,635,436		—
Advances to Jilin Alfbeta Dairy Co.Ltd (v)		4,508,348		12,519,662
Advances to Shanghai Zhuen Properties Development Co., Ltd. (vi)		4,347,336		—
Advances to Haerbin City Ruixinda Investment Company Ltd (“the Purchaser”) (vii)		3,191,267		3,181,279
Advances to Weishidei Group Co., Ltd (viii)		2,898,224		—
Advances to third parties (ix)		2,917,329		4,140,987
Advances to employees		2,047,503		230,107
Others		115,519		378,887
		60,879,155		30,473,435

(i) The advance is unsecured and non-interest bearing. The debtor repaid $14.0 million to the Company in April 2013 and the remaining amount is repayable by September 30, 2013.

(ii) Gannan Feihe Youpeng Food Co, Ltd (“Youpeng’) is engaged in manufacturing and trading of whey powder. In order to secure a reliable source of whey powder for the Company, the Company advanced $12.5 million for the period from January to March 2013 to Youpeng to meet its short-term financial obligation. The advance is unsecured and non interest bearing. The balance of $3.2 million, $4.8 million and $4.5 million is repayable by June 30, 2013, July 31, 2013 and September 30, 2013, respectively.

(iii) Heilongjiang Feihe Yuanshengtai Co., Ltd. (“Yuanshengtai”) was partially owned by two officers and directors of the Company, Mr. Leng You-Bin and Mr. Liu Sheng-Hui, before January 2010. Those shares held by Mr. Leng You-Bin and Mr. Liu Sheng-Hui have been transferred to unrelated third parties who held no ownership interests in Yuanshengtai in January 2010. As of December 31, 2012, Ruixinda held a 99% equity interest in Yuanshengtai. The balances are payments made by the Group on behalf of Yuanshengtai to purchase biological assets and property, plant and equipment. The balances are unsecured and non-interest bearing. Pursuant to an agreement signed on 31 December 2012, Yuanshengtai agreed to repay the amount in full by December 31, 2013.

(iv) In order to support the agriculture economic development in Kedong district, in which the Company’s main factories are located, in January 2013, the Company advanced $5.6 million to Kedong Hexiang Agribusiness Co., Ltd (“Hexiang”), which is nominated by the local government, for its agricultural activities. The advance is unsecured and non-interest bearing. The balance is repayable by September 30, 2013.

(v) The advance to this supplier is unsecured and non-interest bearing. The balance is repayable in July 2013.

(vi) Shanghai Zhuen Properties Development Co., Ltd. (“Shanghai Zhuen”) is engaged in property development, in which the Company was interested in investing. In February 2013, the Company advanced $4.3 million to Shanghai Zhuen as a deposit for property development. In May 2013, the Company retrieved the whole deposit from Shanghai Zhuen due to its intention to withdraw investment.

(vii)	The advance is unsecured and non-interest bearing. Pursuant to an agreement signed on December 31, 2012, the Purchaser agreed to repay the amount in full by July 31, 2013.
(viii)	In March 2013, the Company advanced $2.9 million to Weishidei Group Co., Ltd (“Weishidei”), which refers business opportunities to the Company. The advance is unsecured and non-interest bearing. The balance is repayable in July 31, 2013.

(ix) These are funds lent to third parties, which are unsecured, non-interest bearing, and repayable within one year.